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COVENANTS 200212370
<br />1. Payments. Borrower agr c, to make all payments on the secured debt when due. Unless Borrower and Lender agree otherwise, any payments Lender reecives from
<br />Borrower or for Borrower's benefit swill be .,plied first to any .,..at, Borrower owes on the secured debt exclusive of interest or principal, spread to fanciest, and then to
<br />principal. Ifpardial prepayment fthe secured debt oceurs for any reason, it will not reduce or excuse any, scheduled payment until the secured debt is paid in full.
<br />2. Claims Against Title. Borrower will pay all taxes, ass....ho e and other charges attributable to the propeny when due and will defend title to the properly against
<br />any claims which would impair the lien of this deed of trust Lender may require Borrower to assign any rights, claims or defenses which Borrower may have against
<br />patties who supply labor or materials to improve or maintain the property.
<br />3. Insurance Borrower will keep the property Insured under terms acceptable to Leader at Borrower's expense and For Lenders hencfit All Insurance policies shall
<br />include a standard mortgage clause in favor of Lender. Lender will by named as loss peyce or as the insured on any such insurance policy. Any insurance proceeds may be
<br />applied within lorder's discretion, no either the restoration or repair of the damaged property or no the secured debt If Lender requires mortgage insurance, Bofmwer
<br />agrees to maintain such insurance for as long as Lender requires
<br />4. Property. Borrower will keep the property in good condition and make all repairs reasonably necessary .
<br />5. Expenses. Borrower agrees to pay all Lender's expenses, including reasonable attorneys Uses, if Borrower breaks any covenants in this deed of trust or is any
<br />Obligation sI ... Oil by this deed of trust Borrower will pay these amounts m Lender as provided in Covenant 9 ofthis deed of trust
<br />6. Prior Security interests. Unless Borrower first obtains Lender's written contest, Borrower will not make or permit any changes to any prier security interests
<br />Borrower will perform all of Borrower's obligations under any prior monguge, decd of must or other security agreement, including Borrower's covenants to make payments
<br />when due.
<br />7. Assignment of Rents and Profits. Bormwer assigns to lender the rents and profits ofthe propeny_ Unless Borrower and Lender have agreed otherwise in writing
<br />Borrower may collect and retain the rent as long as Borrower is not in default If Borrower defaults, Lender, Lender's agent, of a court appointed receiver may take
<br />possession and manage We property and sellout the muds Any rents Lender eolleeW shall be applied first to the casts of managing the progeny, including no carts and
<br />atomeys' lees, commissions to rental agents, and any other necessary related expenses. The remaining amount of rents will then apply to payments on the secured debt as
<br />provided in Covenant t
<br />St. Leaseholds; Condominiums; Planned Lnit Developments. Borrower agrees to comply with the previsions of any lease But, deed of trust n on I ... phold. Ifthis
<br />deed of trust is on a unit in a condominium or a planned unit development, Borrower will perfom all of Borrower's duties under the covenants, by laws, or regulations of
<br />the c ffirea man, or planned unit development.
<br />9. Authority of Lender to Perform for Borrower. If Borrower fails to perform, any of Borrower's duties under this decd oftrust, Lender they perform the dude or
<br />se them to be performed. Lender may sign Borrower's name or pay any amount i r necessary for performance. If any construction on the propeny is discontinued or not
<br />carried on In a reasonable manner, lender may do whatever is necessary to protect Lender's security interest in me property This may include completing the construction.
<br />Lender's failure to perform will not preclude Lender from exercising any of its offer rights under the law or this decd oftrust.
<br />Any amounts paid by Lender to protect Lender's security interest wil l be severed by this decd of trust Such amounts will be due oa demand and will bear interest from the
<br />date of the payment until paid in full at the interest fate in effect on the secured debt
<br />10. Default had Arrelerat ion. If Borrower fail, to As pay payment when due or breaks any covenants under this deed or must or any obligation seared by this deed of
<br />trust or any prior mortgage or deed of trust, Lender may accckoate the around, oI the secured debt add demand immediate payment and may invoke me power of salt and
<br />any other remedies permitted by applicable law.
<br />11. Request for Notice of Default It is hereby requested that copies of the notices of default and sale be sent to each person who is a party hereto, at the address of each
<br />such person, as to forth herein.
<br />12. Power of Sale If the Leader invokes the power f side, the I .,fee shall first record in the office of the register o r deeds of each county wherein the trust propeny or
<br />some pan or panel therent' is simzted a notice of default containing the Information required by law. The'rmstee shall also mail copies of the notice of default to me
<br />Borrower, to each person who is a party hereto, and to other persons as prescribed by applicable law. Not less man one month alter the Trustee records the nonot ofdefrmt,
<br />or too ..am, If the tract popery is not In any Incorporated city or village and is used In famhing operations carried on by me truster, the I ounce shall give public notice of
<br />sale to the persons and in the manner prescribed by applicable law. Trustee, without depend on Borrower, shall sell the property at public auction to the highest bidder. If
<br />required by the Farm Homestead Protection An, Trustee shall offer the property In two separate sales as required by applicable law_ Trustee may postpone sale of all or any
<br />perfect of the propeny by public announcement at the time and place of any prcvlously scheduled sale. Leader or its designee into purchase Be property at my sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to life purchaser Trustee deed convoying the property Mentials contained in Trustee's decd shall be
<br />prima facie evidlence of the truth of the statements contained therein Trustee shall apply the proceeds of Be sale in the following order: (a) to all expenses of Be sale,
<br />including, branch limited to reasonable Trustee's fees, reasonable attorney's fees and reinstatement fees; (b) to all sums secured by this deed of trust, and (c) the balance, if
<br />stay, to the persons legal Is entitled to receive it
<br />13. Foreclosure At Tender's option, this decd oftrust may be foreclosed in the manner provided by applicable law for foreclosure of mortgages on real propeny.
<br />14. Inspection. Lender may enter the propeny to inspect it if Lender giros Borrower notice beforehand_ [he notice must stoic the reasonable cause for Lender's
<br />inspection
<br />15. Condemnation. Borrower assigns to Lender the proceeds of any award or claim for damages connected wit, a condemnation or other taking of all or any pan of the
<br />property. Such proceeds will be right fed as provided in Covenant 1. This assignment is subject to the terms of any prior security agreement.
<br />16. Waiver. By exervising any remedy available to Lender, Leader does not give up any rights to later use any offer remmdy By not exercising any remedy upon
<br />Borower's default, Lender does not waive any right to later consider die event a default if it happens again.
<br />17. .Lint and Several Liability; Cu- sigucrs; Suaeesmus and Assigns Round. All duties under this deed oftrust arc joint and several. Any Borrower who resigns this
<br />deed oftrust bat does not co -sign Be underlying debt instmments(s) does so only to grant and convey that Borrower's optical in the property to the Trustee under the terms
<br />ofthis deed of trust In addition, such a Borrower agrees mature Lender mid any other Borrower under this deed of trust may extend modify or make any other changes in
<br />the temps ofthis deed of trust or the secured debt without that Borrower's consent and without releasing that Borrower from the terms of this deed of rest.
<br />the duties and benefits ofthis deed oftrust shall bind and benefit the successors and assigns of Lender and Borrower.
<br />19. Notice. Unless otherwise required by law, any notice to Borrower shall be given by delivering it or by mailing it by certified mall addressed to Burrower at Vic
<br />propeny address or any other address that Borrower has given to Lender. Borrower will give any notice to Lender by certified mail to [.trader's address on page I of
<br />deed oftrust, or to any other address, which Lender has designated. Any other notice to Lender shall be sent m Lenders address as stated on page l ofthis deed of trust
<br />Any notice shall be deemed to have been given to Borrower or Lender when given in the manner stated above
<br />19. Transfer of Property or. Beneficial interest is the Borrower. If at or any pan ofhc property or any interest in it is sold or transferred without the Lender's
<br />pfim wnncih consent, I order may demand immediate payment of the secured debt Lender may also demand immediate payment if Borrower is not a natural person and
<br />a beneficial interest 9n the Borrower is sold or transferred. However, Lender may not demand payment in the above situations if it is prohibited by federal law as of the date
<br />of this deed oftrust.
<br />20. Rise .....atire. When the obligation secured by this deed of trust has been paid, and Lender has no fuller obligation to make advances under the instruments or
<br />agreements secured by this deed ftrust, the Trustee shall, upon written request by the Lender, reconvey the trust propeny. The Lender shall deliver to the Borrower or to
<br />Borrowers successor in interest, the trust deed and the note or other evidence ofthe obligation so satisfied. Borrower shall pay any recordation costs.
<br />21. Successor Traslin, Under, at Lender 'Ioption, may remove Trustee and appoint a successor trustee by first, mail ing a copy of the substitution of trustee as required
<br />by applicable law, and then, by filing the substitution oftmstee for record In the office ofthc register of deeds of each county h, which the trust property, or some pan
<br />thereof, is situated. The successor trustee, without conveyance of the propeny, shall succeed to all the power, duties, authority and title ofine Trustee named in the deed of
<br />Vast and of any acc cam trustee.
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